$6.3m investment brings Funcom ‘back on track’

MCV Staff 27th May 2016 Business News

Troubled MMO developer Funcom has been bailed out of negative equity by an injection of investment money.

The LEGO Minifigures Online, Age of Conan and The Secret World creator had previously been sat at –$10m, which has now been reversed to +$4m thanks to $6.3m in private placement investment. The studio has also dropped its debt by $7.7m by utilising a debt conversion process.

Going forwards, the developer said it would implement a new strategy, prioritising the creation of both smaller and bigger projects simultaneously in its Oslo and North Carolina offices.

Its largest game in progress is Conan Exiles, set for launch on Early Access this summer.

Develop has more details.

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